Waga Energy announces the success of its capital increase with cancellation of shareholders' preferential subscription rights, reserved for certain categories of beneficiaries, through the issue of 3,939,394 new shares at a price of 13.20 euros per New Share.

The gross proceeds of the Offer amount to 52 million euros, and the net proceeds to approximately 50.2 million euros. 3,939,394 New Shares will be issued, representing approximately 19.2% of the Company's existing share capital.

Settlement and delivery of the Offer is expected to take place on March 25, 2024, subject to customary conditions.

Waga Energy is experiencing a significant acceleration in its growth, particularly in North America, and intends to use the net proceeds of the Offer to finance the equity portion of capex for new projects, as well as the prefabrication and manufacture of WAGABOX(c) units to support its international growth.

With the net proceeds of the Offer, together with other non-dilutive sources of financing, including corporate debt, the Company plans to finance the capex required to achieve its sales target of €200 million in 2026.

Mathieu Lefebvre, Chairman and CEO of Waga Energy, commented: "I would like to extend my warmest thanks to all the investors who participated in Waga Energy's capital increase, and in particular to our long-standing shareholders (Noria, ALIAD, Starquest, Tertium and VOL-V), CMA-CGM, who joined us at the time of the IPO, as well as Enowe and all the new investors who are joining us today. In recent months, we have demonstrated our operational excellence and our ability to execute our roadmap, starting up our first production units in Spain, Canada and most recently in the United States.

These funds will enable us to finance new production units, particularly in the United States, a strategic market in which we have enjoyed a number of commercial successes in recent months'

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